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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: bobby beara who wrote (21221)	7/28/1999 1:28:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Bobby, i just heard on CNBC that the chip stocks are a group "you absolutely have to own". this follows on the heels of a comment by another analyst this morning that one "must make absolutely sure to be overweight technology stocks". it is interesting that these recommendations are uttered more and more frequently with the tech sector near it's all time highs. note that very few such comments were forthcoming at the time of the October lows when it was really the right time to load up on these stocks. this is not to say that they cannot rally some more from here - they certainly can. only that the downside risk seems now a lot greater than the upside potential, at least for the medium term. a recent poll of individual investors who entered the market during the last five years shows they expect an average annual return of 22,6% from stocks for the next decade. we either really are in a new era, or the time for disappointment is near. regards, hb

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